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Home › Forums › Housing › Proposed 10% across-the-board CA budget cut.

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  • January 24, 2008 at 1:22 PM #11623
    denverite
    Participant

    Although a Schwarzenegger 10% across-the-board budget cut is still in the proposal phase, I think it probably deserves some attention. If the budget cuts are enacted this will have a negative effect on the CA economy, which might result in more cuts down the road. If the CA budget deficit gets funded with debt, CA’s debt rating would probably go down, resulting in a higher interest rate for the debt instrument.

    Neither of the alternatives are attactive, and either would probably feed the negative turn that the CA economy has taken.

    Are there any other possible short-term “solutions”?

    January 24, 2008 at 1:31 PM #142237
    kewp
    Participant

    Raise taxes. Lots of folks think the cuts are just a play so Schwarzenegger can do just that without losing much face as pol.

    “You force my hand!”

    January 24, 2008 at 1:31 PM #142566
    kewp
    Participant

    Raise taxes. Lots of folks think the cuts are just a play so Schwarzenegger can do just that without losing much face as pol.

    “You force my hand!”

    January 24, 2008 at 1:31 PM #142502
    kewp
    Participant

    Raise taxes. Lots of folks think the cuts are just a play so Schwarzenegger can do just that without losing much face as pol.

    “You force my hand!”

    January 24, 2008 at 1:31 PM #142476
    kewp
    Participant

    Raise taxes. Lots of folks think the cuts are just a play so Schwarzenegger can do just that without losing much face as pol.

    “You force my hand!”

    January 24, 2008 at 1:31 PM #142463
    kewp
    Participant

    Raise taxes. Lots of folks think the cuts are just a play so Schwarzenegger can do just that without losing much face as pol.

    “You force my hand!”

    January 24, 2008 at 2:48 PM #142652
    sethdallob
    Participant

    You’ve got it exactly right, except instead of raising taxes, they will raise “fees” – takes less votes to pass. He’s made the proposal so unpalatable to so many special interests (teachers, nurses, state workers, other unions) that it has 0 chance of being passed.

    I think CA is really f*#$!d if they raise taxes in a recessionary environment…people are already going down hard from the credit seizure/bubble, and raising taxes/fees will only hurt more…

    Oh well, when I get the check from the feds, I can just put it in another envelope and mail it to Sacramento – good times.

    January 24, 2008 at 2:48 PM #142321
    sethdallob
    Participant

    You’ve got it exactly right, except instead of raising taxes, they will raise “fees” – takes less votes to pass. He’s made the proposal so unpalatable to so many special interests (teachers, nurses, state workers, other unions) that it has 0 chance of being passed.

    I think CA is really f*#$!d if they raise taxes in a recessionary environment…people are already going down hard from the credit seizure/bubble, and raising taxes/fees will only hurt more…

    Oh well, when I get the check from the feds, I can just put it in another envelope and mail it to Sacramento – good times.

    January 24, 2008 at 2:48 PM #142548
    sethdallob
    Participant

    You’ve got it exactly right, except instead of raising taxes, they will raise “fees” – takes less votes to pass. He’s made the proposal so unpalatable to so many special interests (teachers, nurses, state workers, other unions) that it has 0 chance of being passed.

    I think CA is really f*#$!d if they raise taxes in a recessionary environment…people are already going down hard from the credit seizure/bubble, and raising taxes/fees will only hurt more…

    Oh well, when I get the check from the feds, I can just put it in another envelope and mail it to Sacramento – good times.

    January 24, 2008 at 2:48 PM #142559
    sethdallob
    Participant

    You’ve got it exactly right, except instead of raising taxes, they will raise “fees” – takes less votes to pass. He’s made the proposal so unpalatable to so many special interests (teachers, nurses, state workers, other unions) that it has 0 chance of being passed.

    I think CA is really f*#$!d if they raise taxes in a recessionary environment…people are already going down hard from the credit seizure/bubble, and raising taxes/fees will only hurt more…

    Oh well, when I get the check from the feds, I can just put it in another envelope and mail it to Sacramento – good times.

    January 24, 2008 at 2:48 PM #142587
    sethdallob
    Participant

    You’ve got it exactly right, except instead of raising taxes, they will raise “fees” – takes less votes to pass. He’s made the proposal so unpalatable to so many special interests (teachers, nurses, state workers, other unions) that it has 0 chance of being passed.

    I think CA is really f*#$!d if they raise taxes in a recessionary environment…people are already going down hard from the credit seizure/bubble, and raising taxes/fees will only hurt more…

    Oh well, when I get the check from the feds, I can just put it in another envelope and mail it to Sacramento – good times.

    January 24, 2008 at 2:55 PM #142331
    patientlywaiting
    Participant

    It’s a good time to shrink government. If everyone in the private sector is hurting, voters won’t feel much sympathy for the government workers.

    We need to shrink government to establish the base of a future robust economy based on innovation and entrepreneurship. We can’t afford to subsidize our way out of every little hole.

    Now is the time to enact wide ranging reforms rather than pass feel-good legislation.

    January 24, 2008 at 2:55 PM #142662
    patientlywaiting
    Participant

    It’s a good time to shrink government. If everyone in the private sector is hurting, voters won’t feel much sympathy for the government workers.

    We need to shrink government to establish the base of a future robust economy based on innovation and entrepreneurship. We can’t afford to subsidize our way out of every little hole.

    Now is the time to enact wide ranging reforms rather than pass feel-good legislation.

    January 24, 2008 at 2:55 PM #142597
    patientlywaiting
    Participant

    It’s a good time to shrink government. If everyone in the private sector is hurting, voters won’t feel much sympathy for the government workers.

    We need to shrink government to establish the base of a future robust economy based on innovation and entrepreneurship. We can’t afford to subsidize our way out of every little hole.

    Now is the time to enact wide ranging reforms rather than pass feel-good legislation.

    January 24, 2008 at 2:55 PM #142558
    patientlywaiting
    Participant

    It’s a good time to shrink government. If everyone in the private sector is hurting, voters won’t feel much sympathy for the government workers.

    We need to shrink government to establish the base of a future robust economy based on innovation and entrepreneurship. We can’t afford to subsidize our way out of every little hole.

    Now is the time to enact wide ranging reforms rather than pass feel-good legislation.

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